Decreasing Returns to Scale for the Small Country due to Scarcity or Indivisibility - A Test on Sport

This paper envisages economies of scale - or rather, diseconomies of low scale - caused in small nations by a sometimes acute shortage of talent and to indivisibility of teams: for example, a small country such as Iceland or Luxembourg cannot participate in an international football tournament with only three players, even if they are exceptionally gifted. After devising a few models we test them on sports (especially on Olympic results). We find that, indeed, the comparative superiority of large nations is to be found in (especially large) team events. Several results are significant at the 0.001 significance level. We conclude by suggesting the establishment of institutions similar to customs unions: a European Sport Associations United (ESAU) could fight with some hope the giants of today and tomorrow (China, India, etc.).

Hardness as a Spectral Peak Estimator for Gamma-Ray Bursts

Simple hardness ratios are found to be a good estimator for the spectral peak energy in Gamma-Ray Bursts (GRBs). Specifically, a high correlation strength is found between the $\nu F_{\nu}$ peak in the spectrum of BATSE GRBs, \epo, and the hardness of GRBs, \hr, as defined by the fluences in channels 3 and 4, divided by the combined fluences in channels 1 and 2 of the BATSE Large Area Detectors. The correlation is independent of the type of the burst, whether Long-duration GRB (LGRB) or Short-duration (SGRB) and remains almost linear over the wide range of the BATSE energy window (20-2000 KeV). Based on Bayes theorem and Markov Chain Monte Carlo techniques, we also present multivariate analyses of the observational data while accounting for data truncation and sample-incompleteness. Prediction intervals for the proposed \hrep ~relation are derived. Results and further simulations are used to compute \epo estimates for nearly the entire BATSE catalog: 2130 GRBs. These results may be useful for investigating the cosmological utility of the spectral peak in GRBs intrinsic luminosity estimates.Comment: MNRAS submitted, Some technical side analyses removed or reduced following the referee's review, 68 pages, 13 figure

Appraisal, Agency and Atypicality: Evidence from Manufactured Homes

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/73056/1/j.1540-6229.2005.00128.x.pd

Heteroskedasticity testing through a comparison of Wald statistics

This paper shows that a test for heteroskedasticity within the context of classical linear regression can be based on the difference between Wald statistics in heteroskedasticity-robust and nonrobust forms. The test is asymptotically distributed under the null hypothesis of homoskedasticity as chi-squared with one degree of freedom. The power of the test is sensitive to the choice of parametric restriction used by the Wald statistics, so the supremum of a range of individual test statistics is proposed. Two versions of a supremum-based test are considered: the first version does not have a known asymptotic null distribution, so the bootstrap is employed to approximate its empirical distribution. The second version has a known asymptotic distribution and, in some cases, is asymptotically pivotal under the null. A simulation study illustrates the use and finite-sample performance of both versions of the test. In this study, the bootstrap is found to provide better size control than asymptotic critical values, namely with heavy-tailed, asymmetric distributions of the covariates. In addition, the use of well-known modifications of the heteroskedasticity consistent covariance matrix estimator of OLS coefficients is also found to benefit the tests’ overall behaviour.info:eu-repo/semantics/publishedVersio

International trade and domestic competition: Evidence from Belgium

We investigate the effect of domestic market competition on firm-level export intensity. We employ a comprehensive dataset of Belgian firms from 2005–2008, when the fall in the number of firms engaged in trade was accompanied by a growing amount of transactions. The resulting increase in the domestic concentration of Belgian firms has sparked numerous debates, since the direction of causality between domestic market structure and export performance is unclear. We apply the fractional logit estimator and control for both self-selection and simultaneity bias. We find that a positive linkage exists between the level of competition and export intensity

Wholesale pricing in a small open economy

This paper addresses the empirical analysis of wholesale profit margins using data of the Dutch wholesale sector, 1986. At the heart of the analysis is the typical nature of wholesale production: wholesalers do not produce a tangible product, but offer a service capacity. This has an immediate impact on the identification, interprelation and measurement of determinants of profit variations. A model is set up to explain variations in wholesale profit margins, which is inspired by two widely applied approaches to industry pricing: the behavioural mark-up model and the marginalist price-cost model